Estimated reading time: 0 minutes, 29 seconds

Goldman Sachs Predicts 2008-Style Housing Crash for Four U.S. Cities

Friday, Jan 27 2023
Lending
Written by  The Mortgage Leader

Goldman Sachs has projected that four U.S. cities will experience housing collapses this year similar to what happened in the 2008 financial crisis. So reports Fox Business.

Goldman SachsAccording to the investment bank, decreases in home prices may exceed 25% in:

  • San Jose, California
  • San Diego, California
  • Austin, Texas
  • Phoenix, Arizona. 

For comparison, the S&P CoreLogic Case-Shiller index shows a 27% slide in 2008.

In a note to clients, Goldman Sachs forecast that home prices will dip through year-end as “interest rates will remain at elevated levels longer than currently priced in.”

Read the full article from Fox Business.

Read 1133 times
Rate this item
(0 votes)
More in this category: « Ex-Rocket Mortgage Exec Ascends to CEO of QC Ally Delinquencies Tick Up, Prepayments Hit Fresh Low: Black Knight »

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.
Ok Decline